We’re pleased to announce our investment in a new 312-unit, $51 million apartment community in Indian Land, South Carolina, a suburb of Charlotte. Fundrise investors are contributing $6 million toward the project. The sponsor, TWO Capital Partners, and its affiliates will provide equity of roughly $11.8 million, with the remainder financed by a senior loan from Texas Capital Bank.

Why we invested

  • Experienced partner: TWO Capital Partners has collectively completed over $1 billion of development and entitlements, and has extensive experience operating in the southeast region of the United States.
  • Strong market fundamentals: The property is located less than a mile from Red Ventures’ headquarters campus and about 20 miles from downtown Charlotte. Red Ventures, an international marketing firm, currently employs 2,200 individuals at its 39-acre campus, with expansions expected to add space for an additional 1,500 employees. In addition, Charlotte’s economy has grown of late due to its development as the second largest financial center in the United States behind New York City, and its status as a transportation hub for the East Coast.
  • High-quality asset: These Class A garden-style apartment homes are slated to feature upscale finishes, including stainless steel appliances, white quartz countertops, 9-to-10 foot ceilings, built-in Bluetooth speakers, and keyless entry doors. Planned community amenities include a fitness center, virtual golf room, game room, clubhouse, two swimming pools, media center, car care center, dog park, and a pet spa.

Market spotlight: strong growth in Charlotte

A midsized city in the southeastern region of North Carolina, located right at the cusp of North and South Carolina, Charlotte has experienced tremendous growth as it has become a major US financial center, ranking among the fastest-growing in the nation between 2015-16. As Charlotte continues to grow, demand for office space has started to spill over into the suburbs, including those on the South Carolina side of the border.

One Charlotte suburb in South Carolina, Indian Land, has become a popular home for many corporate headquarters. Five companies — Red Ventures, CompuCom, Movement Mortgage, Lash Group and LPL Financial — have recently moved or expanded their headquarters to the Indian Land area in South Carolina. In total, these companies have brought nearly 9,000 new jobs to the Indian Land area, with 3,700 of them within a half mile radius of the property.

We believe the addition of well-paying jobs in Indian Land, South Carolina will support strong demand for these beautiful new apartment homes.